Wisconsin Energy Q4 Profit Climbs, Results Beat Estimates - Quick Facts

(RTTNews) - Wisconsin Energy Crop. (WEC) Thursday reported fourth-quarter net income of $144.3 million or $0.63 per share, higher than $98.8 million or $0.43 per share in the prior year.

On average, 12 analysts polled by Thomson Reuters expected the company to earn $0.59 per share for the quarter. Analysts' estimates typically exclude special items.

Operating revenues for the quarter grew to $1.18 billion from $1.07 billion last year. Analysts estimated revenues of $1.10 billion for the quarter.

According to the company, residential use of electricity in 2013 was down by 2.1 percent due to cooler summer weather. Consumption of electricity by small commercial and industrial customers was in line with 2012.

"After a sluggish start, energy demand from our large commercial and industrial customers strengthened during the latter part of the year," said Gale Klappa, chairman and chief executive of the firm.

At the end of December, the company was serving 2,600 more electric customers and 5,800 more natural gas customers than the previous year.